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Next - everyone needs to realize that we can't all live 'rich' lifestyles. Not every family is going to be able to afford two cars, sorry. Not every family is going to live in a huge house, sorry. We don't "deserve" anything, we need to earn what we "deserve".

Amish

yes,credit,from our constant desire for instant gratification,and being taught from childhood the ideal is to aquire,and consume,consume is now a good word,once upon a time it was a terrible insult,no one would have aspired to be a consumer,now it is the american dream,aquiring stuff,and power.

high healthcare cost that ends up with people getting their wages garnished for 20 years,..but we have cheap food,we dont seem to connect what we eat with our health,hmmnn...it would be cheaper in the long run to spend more on food than healthcare,it is easy to forget that every commmunity is ultimately based on agriculture,more people could return to growing their own food rather than importing who knows what from who knows where,if a city dweller,one could start with a single tomato plant,or support local growers rather than the few super corporations that have taken over...

This statement is sort of like saying "guarantee everyone $50,000 per year", both are GREAT ideas.... but HOW do we bring industry back to American soil?

The only way to bring industry back is to make it more beneficial to have the industries here than have them in Mexico.

Why did the industries to move to Mexico in the first place?

(Answer that question, solve that problem, and the industries come back.)

Your first sentence makes no sense. Why is it like giving everyone 5o grand? Explain that. Our country has already done it the way I am suggesting. It worked. America was prosperous. And now our economy sucks. And it is because there are no jobs. People that work behind cash registers in walmart used to work in factories that manufactured our products. Now little asian people do. You are mistaken to even mention Mexico. There are very few factories in Mexico. Mexicans are not stealing our jobs. That is a smokescreen that most young Americans and under educated Americans are being fed. Our jobs are in the far east. That is where our economy went. And as long as people are conned into thinking it is alright to send our jobs there then we will continue to SUCK>.

I would challenge anyone to clearly explain to me why I am wrong. Your first sentence is a jumble that has no bearing on the truth.

Americans used to work in factories that produced our electronic goods, our household goods, like furniture, our cars that were really American. All of these jobs are now done in asia. And Americans stand behind cash registers. What possible virtue is there in this????? Answer me. You can't because I am right.

If it is forbidden then companies cannot move outside the USA. And if the USA is no longer buying foreign made stuff from factories overseas owned by American companies, then there will be no market for goods produced overseas by American factories. Truth is that America is the biggest customers of overseas produced goods.

Company owners will not move outside US soil if their goods cannot be brought back to American soil.

It is time to call a spade a spade. Companies operating outside the USA are commiting treason. Our present economy is proof of this. It is time to make America great again. And still people do not get it.

Study the recent news items dealing with 'protectionism vs. free trade'. Google it.

It illustrates how the USA relies way too heavily on sales of our own exports to illegalize imports.

Hershey chocolate just moved their plant to Mexico, that's why I used Mexico as an example. Pick any country where people are willing to work for less though. In a free market economy the idea of making imports illegal isn't viable.

(Interesting note about unions, Robbi... Wal-Mart is one company right now showing a decent profit in a dismal economy. Why? Americans have 'voted' for inexpensive goods, and - Wal-Mart has no union to take the company hostage.)

How do we get the industries back? I think everyone needs to take a pay cut.

Isn't majority vote among free people a good way to choose?

I know I want to be able to choose the products I buy. If it weren't for foreign imports we would all be 'forced' to purchase American made automobiles at whatever price they decided to sell them. What if American cars all cost 'too much'? Without choices we would all be paying too much.

Just one example.

There is a contingent of Americans that know what it will take to fix this. But we are in the minority. As long as our politicians, ie,,senators and congressmen,,are taking money from these corporations that keep us in poverty it will never change.

It will take a tragedy to change it. Tragedy is at hand. And heads and lives will roll.

Why should I support U.S. auto workers full retirement when they are 48 years old?

(I think they should just work longer like the rest of us and lower the prices on their products. )

There has to be a strong America before Americans should be free to take their businesses,,and jobs to foreign soil. Especially soil where Americans are despised and harbor terror based organizations and populaces in general.

America could change this all tomorrow. But I wouldn't look for that to happen. It will take a catastrophe and that is looming I'm afraid. Then maybe some minds will change. And then maybe some Americans will physically hold those responsible for the treason they are commiting. And those commiting treason are sitting in congressional and senate seats.

Buy American used to mean patriotism, but anymore it might be perceived by some as "give us your hard earned dollars so we don't have to work as hard for ours".

Are you sensing any of that kind of attitude?

(As it stands right now I'm not sure I'll buy an American car again because I am so angry at what American manufacturers have done to themselves with their sheer greed. I'm not real 'proud' of that American industry right now.)

Wills suggested making imports illegal.

Robbi mentioned reducing (eliminating) unions.

Anyone else?

Not using credit? That might work, but then the banks will start hurting.

Making imports illegal? Then who is going to buy your exports? And lets not forget that imports include much more than finished consumer goods, such as raw materials, natural gas, even hydro-electric power.

Bust the unions? Sure, but make damned sure that the government has protections for the worker before doing so.

In my opinion, the best way to turn the economy around is to put more disposable income into the consumers' hands. A cut in sales taxes across the board (say in half) and total elimination of sales taxes on major purchases for a period of one year would have a strong effect.

Government protection for workers? Protection from WHAT...? Unions are 100% about MONEY.

Please let me know what areas in the USA don't fall under the legal protections, especially to the point where the areas need unions to protect/enforce the workers' rights.

(I firmly believe that ALL unions in the USA are 100% about more money and more benefits.)

I personally think more people need to understand that if they do not meet the boss's expectations and performance levels they can be let go from that job. Once they get let go a few times maybe it will build up some work ethic. If you work for someone else that's exactly what you do - you work for someone else, better toe their line, they're paying you money. No laws that say a person is guaranteed a job.

In my opinion this nation definitely needs more understanding of the separation between the 'indians and the chief' (too many people think they are the chief).

The other thing getting let go a few times from jobs might do is get someone off of their ass to maybe start their own business and then they don't have to worry about the boss. They can find out what it is like to hire other people.

No right or wrong answers, just our opinions.

But back to my original post. Unions are only part of the problem. It doesn't matter what how much you make, the typical consumer spends 90% of their after tax income on consumer goods. I still say cutting sales taxes to give people a few more dollars to spend will make a difference.

(Now might be a good idea to switch drivers, don't you think?)

Also, consider gradually going green, For instance, when you need light bulbs, get CFL's instead. They may cost 4 bucks apiece versus 60 cents for a regular bulb, but they last about 10 times as long and use only about 25 percent of the electricity for the same amount of light. That means the price difference is more than offset by the difference in life span alone. The real ripoff here is the 60 cent regular bulb. And don't worry about their cold white appearance, they're now available in warmer tones.

The real fuel in the economic engine is consumer spending. Anything that stifles that spending will stifle the economy.

A perfect example of abusing credit to fuel an impulse buying habit.... irresponsible

I have a credit card that I use only for purchases that I CAN'T make with cash or debit (Airline reservations on-line for example).

The economic woes in North America can be traced to bad credit, especially the mortgage fiasco (talk about abused credit), not buying foreign as many claim. The global market is such that you can't sell your products abroad if you're not also buying abroad.

I work for a major Japanese auto manufacturer and I hear the "stop buying foreign" mantra over and over again. The simple fact is that most (not all) "Japanese" vehicles sold in North America are built here. These manufacturers build these cars with about 1/3 the workforce of the American "Big Three" and collectively sell more cars doing it. How do they do it? Smart management, in many cases no unions, and a quality product. When you buy an Altima, a Corolla or a Sentra, you're buying North American (check the VIN on a few if you doubt me: if the VIN starts with 1 its US built, a 2 and its Canadian, a 3 and its Mexican).

Now do this math: if 200 million consumers had even $3.00 more a day to spend on goods and services because sales taxes got cut in half, that would be $600m more dollars per day circulating in the economy. Thats $3.6b a week. I would say that would be a shot in the arm for the economy more than handing that same money to inefficient corporations who would likely sink it into capital purchases that would take years to start bearing fruit.

About 30 years ago here in Ontario, the economy was in a slide. The premier (I think it was Bill Davis at the time) cut the Provincial Sales Tax in half for a period of time (6 months I think). Almost overnight the economy turned around. It wasn't a hidden change either: I was working on the counter for an auto parts jobber at the time and immediately our volume shot up.

On the other hand, those same dollars handed to a corporation would take years to effect the same change.

BTW, I realized I made a math mistake: It should have been $4.2b, not $3.6b. I'm used to a 6-day work week, LOL.

President Obama on Wednesday will announce new "rules of the road" on earmarks, the White House says.

Earmarks are unrelated pet projects that members of Congress insert in spending bills.

Some lawmakers have urged Obama to veto the $410 billion omnibus spending bill -- saying it goes against the president's campaign pledge to bring an end to wasteful spending.

- - - - - - - - - - - - - -

"Earmarks are unrelated pet projects that members of Congress insert in spending bills."

Why not just call them unrelated pet projects then? Or maybe just refer to them as a waste of money?

The only 'earmark' I see is a fancy term to disguise the truth.

F*ck these cute names for governmental LIES... tell the truth.

Not saying its right; however, thats the way it is. There are politicians I'm sure, who do have principles, but they get buried under rhetoric and double-speak in order to appease those who don't hold the same views. A politician who speaks his or her mind and sticks to his or her guns will rarely get far. Its a flaw in the system: it corrupts by its very nature.

Also tck you said and i quote First & foremost - people need to stop buying things on credit. Affordability is the new name of the game. Can't afford it? You can't buy it

Well when our Government cant take that advice its kind of hard to expect its people to do it

Is for people to keep saying,

- "Well it's better than having Bush as president!"

- "Well, it is all Bush's fault."

- "Bush is gone so things will be better now."

- "Things can't be worse than they were under Bush."

I personally find these type of responses to be of a retarded mental level. Just my opinion.. I KNOW Americans are smarter than this.

Have we become a nation of non-thinkers continually looking BACKWARD instead of forward?

We need to continually hold ALL politicians responsible and accountable for progress. None of them are saints, and few of them have YOUR best interests in mind.

Question authority, make politicians EARN your tax dollars, don't worship them.

-sitting back and expecting the government to do it for us.....

Thats one way to make DAMN SURE it doesn't get fixed.

Anyways, check these wall street fallacies out

http://finance.yahoo.com/news/5-Wall-Street-usnews-14598684.html;_ylt=AuOycNVtpCYGYfgCZjRWu.W7YWsA?.&.pf=retirement

My own feelings are that the government needs to make it favorable for businesses to exist, expand, and profit, here in the USA.

- How about a tax credit for every employee that remains employed for one year? Hire more employees, pay fewer taxes?

- How about apologizing to the oil companies for threatening a 'windfall profits' tax because they did good business, legally, all within the rules? Maybe they won't relocate to Switzerland and leave the USA with NO tax revenue?

- Make it easier for businesses to hire employees without tons of paperwork, legal obligation, and threats of union takeover?

Our government can't make the economy better, but I think our government can make it attractive for businesses to do business in the USA again.

People who are losing jobs, and not spending money now, will start buying things costing MORE money?

Most respectfully - please explain.

Years ago in Canada we had a Federal Sales Tax which was "hidden;" that is to say, it was factored into the price of almost everything and didn't appear on the sales invoice when you bought something. Then they decided to do away with the FST and replace it with a Goods and Services Tax (GST) which WOULD appear on the invoice.

Logic would suggest that pre-tax prices should have dropped. They didn't. Now we're faced with an endless parade of politicians promising to abolish the GST, only to renege once elected.

I can't recall how it goes (its been 16 years since I took economics) but I recall something about a principle stating that a dollar spent by a consumer has 10 times the economic impact of a dollar spent by a corporation or government. So in general, I agree that lower taxes will help more than corporate tax breaks or government spending.

http://ca.news.yahoo.com/s/reuters/090312/odds/odd_us_germany_bill_odd

I think the multi-million dollar 'bailout' was not thought out very well at all, after being pushed through in 48 hours time. And some additional spending bills after that.

The proof? The bullshit going on with AIG using the money for bonuses.

That money was intended to help a seemingly struggling business remain in business, NOT to line the pockets of executives with extra cash.

Government leaders did not ensure provisions against improper spending of the funds.

Now they're trying desperately to get the money BACK.

Another example of "There's never time to do it right the first time, but there's always time to do it over again."

Sucks that it is OUR money being wasted though.

now everyone says that we are so dependent on each others entertainment dollars for our economic wellbeing,the red lobster,starbucks,etc,that we must spend so our fellow americans can keep their jobs,and i understand this one hand washing the other,but it seems to me that that is only feeding the addiction,or putting a bandaid on severed artery,it seems like a shortterm answer that will only prolong the inevitable,its not working,i think the whole thing has failed and were screwed

When we are no longer manufacturing or growing anything, we are just trading services back and forth among ourselves (as opposed to buying tangible goods from one another).

He said people need to be so broke, and down so low, that they become eager and willing to WORK for a specified hourly wage, WITHOUT demanding more & more, and realize they can NOT live in a large house, can NOT have two cars, and basically can NOT buy things they simply cannot afford.

He said that when enough people are delivering pizzas because they need the money just to survive, when enough people are working double shifts at a fast food counter just to survive, when people are WILLING to WORK to the best of their abilities for a company paying decent wages, and Be GRATEFUL to have that job, things will get better.

But a lot of people are going to lose a lot of homes, cars and material possessions first.

A lot of people are going to realize the Obama can not keep making their house and car payments forever. We can't all be union and government employees - it cannot happen.

Our economy is going to fix itself when people have to stand on their own.

Detroit is a fine example of this concept.

Those workers sure showed the auto industry.

- - - - - - - - - - - - - - - -

The real problem is coming gtr, because not everyone will get a job delivering pizzas, there won't be enough jobs even doing that. And that's my whole point - people are going to be VERY grateful to be able to put food on the table as they WALK back and forth to some kind of 'work'.

In essence, people will be willing to blow their former boss if he will just PLEASE employ them at even half of their former wages.

(I hope I am wrong, but the unemployment % is rising FAST, I don't think the 'message' you stated is getting through. The true message appears to be that Americans need to figure out who is the business owner, who is the worker, and who makes the rules - or the jobs will stay in Mexico where everyone seems to understand just fine. )

I was talking to some people last night and your thoughts appear to be the attitude of many.

We discussed why didn't they start their own businesses, hire employees, and treat the employees like gold?

(Why ask for someone else to do what you can do for yourself, right?)

The general agreement was that they didn't know how, they needed a steady income, they had too much debt, they didn't have the startup capital, they didn't have a viable business idea, they were too old now, they didn't want the hassle, etc. Quite frankly it was all a lot of bullshit talk about them 'knowing how a business should be run', but admittedly no intentions of ever addressing such an endeavor themselves for fear of failure.

(I just listened, I didn't provide any feedback or criticism.)

My thoughts now? Good luck to all of the people "who wouldn't be grateful to have a job that pays me nothing more than enough to keep getting back and forth to work."

Best wishes! Current indications are that many people will need to have two (2) of these kind of jobs, and if they aren't grateful - somebody else will gladly take those jobs.

Once again - I can only hope I am wrong.

wanting a free paycheck,not realizing that when they were moseying around in low gear they were actually stealing from me.

when i worked for other people,the workers always grumbled against the owners,talked trash about how much better they could run the buisiness,how bad the employees had it,etc.,no loyalty,no gratitude,too much time on their hands apparently,

everyones concerned about their dang rights,people have it too good and have nothing better to do than grumble and bite the hand that feeds them.

My best workers were kids who had been working the hay fields,getting payed so many cents per bale,they wouldnt complain about some honest bruises and bleeding,or working in the rain etc. In a lot of these rural areas noone has ever heard of OSHA,and all these government organizations,some people here grew up working in the oilfields since they were little kids,helping their dads,and they are pretty well off now,owning their own wells,servicing others,and running buffalo herds,and their boys grow up working for them in turn.

People can feel free to defend their positions against their employers, whatever they think works. But if it isn't working - STOP doing it.

When I was growing up and in my 20's I realized that the employer had the money, I wanted the money, so I should do what the employer 'suggested' in order for the employer to give me some of the money, all on a continuing basis. Simple concept.

When I thought I could do better, I went and got a different job.

- - - - - - - - - - - - - -

Companies are all moving their production facilities OUT OF THE USA specifically so they do NOT have to deal with employee issues.

IMPORTANT POINT: Specifically so they do not have to deal with employee issues.

Read that carefully.

Q - Why are companies moving their plants OUT OF THE USA...?

A - Specifically so they do not have to deal with employee issues.

Bruce Springsteen said it long ago... "... them job's is goin' boys... and they ain't comin' back."

(American workers had better wise up. Everyone cannot make the wages they expect to make.)

I found that in construction instead of employees it's better to sub a job to someone for a price......or pay a guy "piece work", meaning you pay a specific amount per item done. So much per sheet of sheet rock hung etc. No hourly wage, no taxes, workman's comp, no benefits.....just plain ole trading labor for dollars. And the person can take their time if they want......it behooves them to finish quickly, but it's up to them.....doesn't cost me if they drag their feet.....

I think we'll see alot of the above type work coming back....you work a project for a few days, then on to something else...whatever you can do to make a buck or two..

Also robbi, there is no one-size-fits-all solution to paying employees. My guess would be that hourly wages were initially conceived to encourage quality work. Paying employees piecemeal in the wrong industries often results in the employee doing sloppy work in order to make more money doing it... I work in a hotel and if the room attendants were paid that way the rooms would be in such shitty condition that nobody would want to stay there. Thats why I'm glad they are paid hourly. In all, quality assurance is primarily why piece work fell by the wayside. Also keep in mind that most truckers are paid in that way (by the mile) and check out some of the ridiculously dangerous moves some (not all) of them pull on the highways, not to mention driving while fatigued and faking their logbooks for the authorities. And dont anybody comment about my concern for fatigued drivers as coddling until you think about the possibility of that truck crushing a car thats carrying someone you love because the driver fell asleep at the wheel while trying to put more money in his pocket. It seems business owners tend to forget that workers seek jobs to make money not to see how much of YOUR work they can do.

Any industry that pays flat rate or on a piece-work basis is prone to these problems.

One thing we can do for the economy is to teach our kids to work,not as an abstract idea,but really let them work,when my daughter was 3 years old she would rake and drag brush and throw it on the trailer,she would put bolts in my projects,to her ability of course,she loved it and her paycheck was in the form of taking her out for an icecream cone,she loads wood and helps with all sorts of work,some people think its terrible,but i think to teach our kids to work,and to let them work before they develop an aversion to it,is a great heritage to pass on,good for them,and for the economy,its not an immediate solution,but necessary,and i imagine most good solutions will take time,quick fixes usually suck and we didnt dig ourselves in this hole overnight.

In a very selfish way I hope all workers continue to have that attitude.

(Because I've always let the employer know that I am interested in doing their work to the best of my ability BEFORE I even think about getting paid. It is called integrity and work ethic. I've never had a problem getting and keeping a job. )

I love piece work,i'm not super patriotic,but it just seems so dang american!

when one does piece work,they are not a slave,or drone,like a wage earner,they are pretty selfemployed,sad to say maybe,but when i did piece work,that project was my baby,took pride in it,in myself,but i never got that from hourly work,when people do piece work,their ambition comes to life they get fired up,pride in oneself is quality assurance.

when the owner is there,and the emploees know him,and want to keep his trust,and make him proud,that is quality assurance,get rid of people who dont take pride in their work,or who dont realise that they are there to make money for the companyfirst,themselves2nd,trust is important,but if the owner is sipping margueritas on the beach with umbrellas and a lawn chair all the time,maybe then he might need a quality assurance person.

I cant see hourly pay as quality assurance in the trucking industry either,because i'm hourly and still get 18 hour days occasionally with no break,and have a few hours off duty to get home shower sleep and be back to work,creative logbooks are part of hourly drivers too.

I guess when buisinesses get big things must get pretty complicated beyond my understanding,small buisiness answers seem pretty cut and dried to me,dont know why they cant be applied to big buisiness

- - - - - - - - - - -

Cash-Strapped Postal Service Seeks Help in Cutting Costs.

Postmaster General John Potter warns that the Postal Service could run out of money this year.

WASHINGTON -- Postmaster General John Potter says that without help, the U.S. Postal Service will run out of money this year.

Potter told a House subcommittee Wednesday the lingering question is: Which bills will get paid and which will not.

He said he will make sure that salaries are paid, but also said other bills might have to wait. Potter is seeking permission to reduce mail delivery to five days a week and wants to reduce other costs.

He said the post office is "facing losses of historic proportion. Our situation is critical."

The post office was $2.8 billion in the red last year and is facing even larger losses this year due to the sharp decline in mail volume in the weak economy.

- - - - - - - - - - - - -

Without 'help' the Post Office won't be able to operate like General Motors. Imagine that!

Tell me it just ain't so, lol! What is this economy coming to when you cannot overpay employees and give them early retirement with full benefits?

There ought to be a law to keep it going... in fact, they're making new laws right now to keep it going, lol. YOUR dollars will enable these types of inefficient entities to keep operating. YOUR dollars will ensure that these folks can retire early with full benefits (while you work toward... no retirement at all and no benefits, lol).

One model to follow for fixing the economy could be to watch whatever California does...

... and do just the opposite.

Obama is suggesting for this nation the exact same tactics that have all but destroyed California.

Patriotic retirement:

There's about 40 million people over 50 in the work force;

pay them $1 million apiece severance with three stipulations:

1) They leave their jobs. Forty million job openings - Unemployment

fixed.

2) They buy NEW American cars. Forty million cars ordered - Auto

Industry fixed.

3) They either buy a house or pay off their mortgage- Housing Crisis

fixed.

All National financial problems fixed!!!

The basic economic paradigm were currently using is a debt-based growth system. We're based on a fiat currency and we distribute it on a fractional reserve basis. Our economic paradigm both presumes, and even REQUIRES infinite growth - but that growth simply produces more DEBT. If we presume that "Money = Value," then the system is flawed, since debt does NOT = value. Ever since Bretton Woods, money has become a theoretical construct, rather than a tangible entity, which is inherently unstable, since it's subject to the whims of an emotional population.

At the moment, we (the US) needs around 2 billion PER DAY in foreign investment to keep the system from COMPLETE collapse. And the only reason we can currently achieve that is if foreign investors believe in the dollar. Any "investment" represents DEBT that we owe. Understand? If we can't get foreign investors to loan us more money, we have to print it ourselves, which is exactly what we just did, to the tune of some 1.3T. Yes, 'T' means TRILLION. That's the blueprint for hyperinflation, demonetization, currency debasement - whatever you want to call it. It's not just a downward spiral, it's a pit of quicksand @ 10x gravity, and we can't even see our knees.

So unless we come up with a new economic paradigm (which we won't), it's time to bend over, grab your bootstraps and clench your teeth really hard & wait for it ...

What supports ALL of the government jobs in the USA?

(Same answer to both questions - those evil, greedy private businesses and corporations.)

And it shouldn't be too much longer before people are begging and pleading for the greedy evil private business owners and corporations to start hiring again. PLEASE start a company they will beg, we will do anything you ask. We promise to never screw you in the ass with unionism ever again if you will PLEASE just bring the jobs back.

But the private businesses and corporations MUST wait a while longer, because you see, Joe McNoBrain who used to be in the union making $52,000 per year turning a wrench all day long, stoned, with full benefits, will now have to work two jobs for even less money, and no benefits, and he will be PISSED off doing so. Joe feels he was 'entitled' to that job and those wages, he 'forgot' somewhere along the line about this concept called 'earning what you are worth'. So it will be a while before Joe and his cohorts realize they have to actually 'work' when they 'attend' a new job.

Unionism will soon (if it hasn't already) become associated with terrorism and financial suicide. If any former union member applies for a new job it would be in his/her best interest to either deny they were ever in a business killing union, or lament upon their serious lapse of mental insanity for having been a part of a business killing union.

(Obama the Swami on high CANNOT 'create' permanent jobs - he can only create temporary jobs sustained by government $$ and then only until the $$ run out.)

Soon even all-knowing-but-quickly-forgetting Obama from upon high will have to realize that government regulation, taxation, red tape, helping unions, and hindering business, won't encourage private businesses to bring the jobs back.

Is it too late? Has private business been screwed too much? Only time will tell.

(Hey, for a real laugh, how about when dumbass Obama suggested a 'windfall profits tax' on the oil companies... So the oil companies (and other companies) just relocated to Switzerland, LOL. Barack Obama the Harvard graduate. OOOoooops.)

I hate what these f*ckers have done to our country, I just hate it.

http://www.youtube.com/watch?v=jeYscnFpEyA

Get this - the spending bill passed in 48 hours with none of the government leaders even reading the bill, and NOW they want to make sure everything is proper.

Head up ass logic.

Obama, tuck your ears in when you pull your head out of your asshole.

Conversely though... I think the situation may get better here in the USA when enough people are ready & willing to work for less money than in the past.

Most readers hate me for saying this, but remember - I'm not the problem or the solution...

The USA does not have enough production workers willing to work for $7 or $8 per hour, AND, companies have a hard time hiring people to work for these wages due to additional costs and liability (workman's comp, unemployment, legal expenses, vacation, family leave, benefits, etc.) required by the U.S. government.

People REALLY hate me for mentioning this factor - U.S. companies also have to deal with unions demanding higher and higher wages every year REGARDLESS of economic ups and downs.

Shoe companies are faced with a decision - hire U.S. workers to make the shoes, OR, pay a solid flat rate and have the shows made for them somewhere else. Just to avoid labor issues ALONE, regardless of cost factors, they have the shoes made somewhere else.

We, as a nation, are screwing ourselves in many employment issue areas. We need to make it more affordable, easier, and profitable, for companies to hire U.S. production workers.

No offense to any workers, or anyone... just my own observations.

I have no desire to get into a name calling and/or insult battle.

Thanks!

I'd piss, moan, and cry about how terrible the job was, and how it didn't pay for shit, and someone would remind me that I could quit anytime... but I'd better be sure I had a better job lined up before I quit.

Yup, I'm glad all of those jobs were around because I don't see them available for the teenagers and young adults now.

I think that they should do a few things, legalize pot, tax it, and use the funds to offer an insentive to companies that stay in the U.S.A.

do away with the whole nato business (where there's a will there's a way ppl, cmon)

offer a tax break to companies that hire someone who's been on unemployment for more than 6 months.

Obama didn't authorize ATTACKS on the pirates, he authorized A TAX on the pirates.

GGGGAAAAAAAA!!!

If a company cannot survive, like all other companies have to, I won't support their 'welfare' payments.

It is ridiculous that right now Chrysler workers are NOT working and still receiving full pay from our tax dollars.

They should be on unemployment like everyone else, instead of receiving their regular pay.

Do poor companies a favor - let them die mercifully.

First of all, the BILLIONS we loaned DID NOTHING FOR US as individuals, so I came up with a very very unique theory or OPINION if I may add...

There are estimated over 2.5 million workers who are working over the age of 55yrs old..If we gave EACH ONE OF THEM $1 MILLION DOLLARS TO RETIRE AND TO REPLACE THEM WITH YOUNGER WORKERS WE WOULD GET 2.5 MILLION UNEMPLOYED PEOPLE WORKING AND THE RETIREES WOULD EVENTUALLY BOOST THE ECONOMY by taking vacations, buying new cars, paying off mortgage..Think about the DOMINO REACTION off of this simple step it would have...Not one person would refuse that $1 million to retire..

Do not we have the BRIGHTEST THINKERS in Washington and they cannot come up with a simple solution such as this??

Imagine taking the population of San Francisco, Calif and multiply it by 3..That would be the amount you would be replacing jobs for and saving the government money from "unemployment benifits" and from issuing "social security" to the ones you gave the $1 million to retire which they would have to agree to give up their social security benefits for the $1 million to cover their retirement and medical insurance as well.

JUST COMMON SENSE

Many unemployed workers are forced into freelance positions as employers pull back on full-time hiring.

By Jessica Dickler, CNNMoney.com staff writer

May 4, 2009: 3:57 AM ET

NEW YORK (CNNMoney.com) -- As unemployed Americans struggle to find full-time work, many will have to settle for positions that are easier to come by - freelance.

Freelance professionals now make up more than a quarter of the U.S. working population, or 26%, according to a survey by human resources consulting firm Kelly Services, Inc, up from 19% in 2006.

"As the economy contracts, there are not only more people looking for new ways of earning money, there are also more companies looking to make their employment practices more efficient," said Rob Palmer, CEO of GoFreelance.com, a job search site for freelancers.

Freelance positions fill both needs.

For businesses, taking advantage of freelance labor is a means of saving money. By hiring freelancers instead of full-time workers, firms can only pay for workers when they need them, in addition to cutting back on costly benefit plans.

- - - - - - - - - - -

People getting paid to work, but only when they work? Whoa... what a concept.

This 'work for pay' radical shift in employment will help the economy for sure.

Wed May 6, 2009 10:55am EDT

- - - - - - - - - -

Yeah, Obama creates new jobs!!!! (Paid for by higher taxes on YOUR income, lol.... )

Gov. Chris Gregoire has approved a tax break for the state's troubled newspaper industry.

OLYMPIA, Wash.

Gov. Chris Gregoire has approved a tax break for the state's troubled newspaper industry.

The new law gives newspaper printers and publishers a 40 percent cut in the state's main business tax. The discounted rate mirrors breaks given in years past to the Boeing Co. and the timber industry.

Newspapers across the country have resorted to layoffs and other cost-cutting moves to deal with a wounded business model and a recession-fueled drop in advertising.

The Seattle Post-Intelligencer printed its final edition earlier this year and was converted to an Internet-only publication with a much-reduced staff.

- - - - - - - - - -

The company you work at doesn't get a 40% tax break? Sucks to be you, huh?

So... property taxes are going to rise about 15% to 20%... LOL...!

That means all of the taxpayers who own homes will be paying MUCH higher rent on the homes they think they own, so that the state employees can continue to retire at age 55 and receive full benefits.

(NOTE: people thinking about moving in to the area change their minds real quick when they see how much it costs to rent the home they want to buy, so the current homeowners can't sell their homes and move away, lol.)

One way to fix the economy? Rethink this RETARDED notion that state employees should receive full retirement and benefits at age 55 - have them work until age 65 like everyone else. Why are they special?

Ok, I have been hearing all the complicated bull poop of how to stimulate the economy. The resolve is quite simple. If every woman were to charge for sex instead of giving it away, the economy will recover in record time. If women were to charge just $20 for sex, that would average to $1200 per hour. ($20 per minute times 60 minutes per hour equals $1200 per hour.) Women would shop more and could pay with cash. Credit problem gone! Jobs created. Tax revenue paid.

Oh, and the women could work part time and still make $24,000 a week. That totals to about $1. 25 million a year!

Easy, huh?

So, by stimulating the mans package the stimulus package would resolve out current problems.

well said Flower. well said

By John Waggoner, USA TODAY

Federal tax revenue plunged $138 billion, or 34%, in April vs. a year ago the biggest April drop since 1981, a study released Tuesday by the American Institute for Economic Research says.

When the economy slumps, so does tax revenue, and this recession has been no different, says Kerry Lynch, senior fellow at the AIER and author of the study. "It illustrates how severe the recession has been."

For example, 6 million people lost jobs in the 12 months ended in April and that means far fewer dollars from income taxes. Income tax revenue dropped 44% from a year ago.

"These are staggering numbers," Lynch says.

- - - - - - - -

Even more 'staggering' are the costs for gov workers early retirement with full benefits forever, lol.

Payment for these retirement plans will take precedence over fixing the economy.

First - the government workers will get all of theirs.

Second - if there is anything leftover (small chance?) it might help the economy.

Keep the damned government OUT of it... let business do business.

...and business is what pays for the government jobs.

But a lot of people don't realize it. Until it is too late.

(Financial Obamacide is upon us. )

1. Federal budget freeze. No new programs, no spending increases. You freeze the budget as is. It'd be better if you backed it off to say the 2006 level instead of the monstrosities created in the last 2 years of Bush or Obama's current apocalyptic economic monstrosity. You keep the freeze in place for 10 years, and you will reduce the deficit and debt substantially.

2. Renew the Bush tax cuts. These are set to expire in 2010. Just in time for the elections. It will at as a de facto tax increase that almost all Americans will feel in negative ways. The "rich" will get soaked, drying up investment money, stunting business growth for lack of capital and cause even more layoffs because there will be no more money gushing down from "rich people" buying day to day items. No, the government will not spend the money gained by the tax increase wisely. They will take it as license to increase more programs we can't afford now... let alone 20 years ago.

3. End the "Green Revolution". This fraud will destroy our economy. Even the newly emerging capitalist systems in Russia and China understand this and have flat out refused to get on board. Cap and Trade will end US economic viability on it's own. Frivilous green lawsuits that are nothing more than NIMBY on steroid and PCP need to be thrown out and barred. They are increasing the costs of essential infrastructure projects and good ideas in private industry. For what? Clean air? We have that down pat. Carbon Dioxide/Global Warming? Flat out scientific fraud that's been debunked a thousand ways from Sunday. It is anti-human, anti-technology and suicidal.

4. Begin massive domestic energy production. Drill for oil, mine for coal, build nuclear plants and lace the nation with much needed power lines and pipelines. We are desperate for cheap energy. France gets 75% of it's electricity from nukes and never had an accident. The FRENCH can do this! Why can't we? Oh yeah, psychotic freeznik greens. Clean coal exists. CO2 is not a pollutant, it's a fertilizer. And of course, domestic drilling will not only drop the price of oil and make our business environment more attractive by making it more secure, it will allow us to start starving out terrorist sponsoring nations and our enemies that currently have us by the short and curlies.

5. No more bailouts, rescind TARP. 700 billion dollars can be rolled back to pay down debt if we back away from the TARP money. We need to let the failing businesses fail and end up in bankruptcy so we know where the risks are. This is the reason the credit markets are still frozen. Nobody can isolate the risky investments, so all are viewed as risky. This of course means ending Freddie Mac and Fannie May, but there is no downside to that save a possible plunge in housing prices, which will then be followed by a major boom as there will be a glut of cheap housing out there. Of course, this won't happen. Too much political capital is being funded to corrupt members of the government through this. We have bankruptcy law for a reason. We need to use it. Quit printing money as well, and let the interest rates go free as well. Oh, and make government ownership in private industry a crime on par with treason.

Do those 5 things, and you will watch the economy come roaring back. Everything else only prolongs the inevitable and makes it far far worse.

President Obama will sign a memorandum today granting health care and other benefits to the same-sex partners of federal employees, two senior administration officials said.

- - - - - - - - - - -

Your tax dollars will now support gay couples' benefits for federal employees.

New development:

Updated 6:23 p.m. ET

President Obama signed a memorandum today extending some federal benefits to same-sex partners of federal workers. The measure does not cover health care and retirement benefits.

- - - - - - - - - - - -

Playing both sides of the fence, cool. No one will see through that ruse, lol.

Obama is so clever.

Governor Calls For Special Session, Threatens To Call Legislative Sessions Every Day Until Resolution Is Reached.

Governor David Paterson says enough is enough. Fed up with the fighting in Albany, the governor is ordering Senators back into the state house and he plans to keep them there until the squabbling stops.

"Over the last couple of weeks, the senators' conduct has been laughable but what's going on around here is no joke, and I don't find it funny," Paterson said.

Saying he's not amused on Sunday, a stern Paterson ordered a special state Senate session for Tuesday.

"To the senators, I tell you: you have inconvenienced the lives of all New Yorkers for a couple of weeks, and now you will come back to work and do the people's business," he said.

Since two dissident Democratic senators teamed up with Republicans to form a coalition government and oust Majority Leader Malcolm Smith, angry Democrats have refused to take part in Senate sessions and have hidden bills and agendas from the coalition. Paterson threatened both sides that they'd better show up to the special session or he'll schedule sessions on weekends and holidays until they find a resolution.

"If the senators do not cooperate with this order, I will convene a special session everyday until they do," Paterson said. "That includes Saturdays and Sundays, that includes Fourth of July. There will be no excuses, and there will be no tolerance to non-compliance to this order."

- - - - - - - -

The senators get paid to act like this?

And we EXPECT the economy to get better?

Right.

(Problem? Throw money at it, maybe the problem will go away? )

Meanwhile unemployment is rising rapidly and people are losing their homes.

But...

Unemployed homeless people and people living in 'tent cities' create practically no 'greenhouse gas emissions'.

15 different states are soon to have 10% and higher unemployment rates.

I guess those evil, corrupt, greedy businesses & corporations can't take unfair advantage of those people, huh?

Want jobs? Make it easier for businesses and corporations to hire people.

And if you have a job, don't be concerned with how much the boss and/or owners are making. Either work for your wages, or become your own boss/owner of your own business.

Consumer spending accounts for about 70% of our economy. Tell the consumers that they are likely to lose their jobs and they stop spending -- then guess what happens -- they end up losing their jobs because of not enough business. Who would've thought?

Its high time for these economists to read Oedipus Rex and ask themselves "Would Oedipus have killed his father and married his mother had the prophet simply kept his mouth shut?"

Perhaps they're just toeing the party line of whichever party pays their paychecks?

At first I thought this was funny .... Then I realized the awful truth of it.

Be sure to read all the way to the end!

Tax his land,

Tax his bed,

Tax the table

At which he's fed.

Tax his tractor,

Tax his mule,

Teach him taxes

Are the rule.

Tax his work,

Tax his pay,

He works for peanuts

Anyway!

Tax his cow,

Tax his goat,

Tax his pants,

Tax his coat.

Tax his ties,

Tax his shirt,

Tax his work,

Tax his dirt.

Tax his tobacco,

Tax his drink,

Tax him if he

Tries to think.

Tax his cigars,

Tax his beers,

If he cries

Tax his tears.

Tax his car,

Tax his gas,

Find other ways

To tax his Ass

Tax all he has

Then let him know

That you won't be done

Till he has no dough.

When he screams and hollers,

Then tax him some more,

Tax him till

He's good and sore.

Then tax his coffin,

Tax his grave,

Tax the sod in

Which he's laid.

Put these words upon his tomb,

' Taxes drove me to my doom...'

When he's gone,

Do not relax,

Its time to apply

The inheritance tax.

Accounts Receivable Tax

Building Permit Tax

CDL20license Tax

Cigarette Tax

Corporate Income Tax

Dog License Tax

Excise Taxes

Federal Income Tax

Federal Unemployment Tax (FUTA)

Fishing License Tax

Food License Tax

Fuel Permit Tax

Gasoline Tax (42 cents per gallon)

Gross Receipts Tax

Hunting License Tax

Inheritance Tax

Inventory Tax

IRS Interest Charges IRS Penalties (tax on top of tax)

Liquor Tax

Luxury Taxes

Marriage License Tax

Medicare Tax

Personal Property Tax

Property Tax

Real Estate Tax

Service Charge Tax

Social Security Tax

Road Usage Tax

Sales Tax

Recreational Vehicle Tax

School Tax

State Income Tax

State Unemployment Tax (SUTA)

Telephone Federal Excise Tax

Telephone Federal Universal Service Fee Tax

Telephone Federal, State and Local Surcharge Taxes

Telephone Minimum Usage Surcharge Tax

Telephone Recurring and Non-recurring Charges Tax

Telephone State and Local Tax

Telephone Usage Charge Tax

Utility Taxes

Vehicle License Registration Tax

Vehicle Sales Tax

Watercraft Registration Tax

Well Permit Tax

Workers Compensation Tax

STILL THINK THIS IS FUNNY?

Not one of these taxes existed 100 years ago, and our nation was the most prosperous in the world.

We had absolutely no national debt, had the largest middle class in the world, and Mom stayed home to raise the kids.

What in the hell happened? Can you spell 'politicians!'

And I still have to 'press 1' for English !?!?!?!?

I hope this goes around THE USA at least 100 times !!!!!

YOU can help it get there !!!!!

GO AHEAD - - - BE AN AMERICAN !!!!!

gtr - I hope the economists dire projections can keep people from spending... because most people are spending money they don't even have (credit cards).

The 'American way' of borrowing money to spend has to stop.

Consumers should be afraid... very afraid... to borrow money.

And Robbi, I think its time for a tax to end all taxes (or at least new ones anyways)... A tax applied only to legislators who propose new taxes.

If the monetary value of EVERYONE'S health insurance benefits package was subject to income tax, it could go a long way toward paying for those who have no health insurance (or something else). Health insurance benefits are 'income'.

- - - - - - - - - - -

gtr - I hope the general population does start spending more freely again. The bulk of my own money is being loaned out by banks so people can buy items based on credit.

Obama said it ridiculously best, "... these peoples only crime was being talked into taking out a loan they couldn't afford by some slick loan broker...." (In other words - legal age American adults are too uneducated to make their own financial decisions?)

My own philosophy will remain as it always has been: don't got it, don't spend it. Need a home? Buy an economical trailer. Save up money to upgrade from the trailer to a reasonably priced modular home, and pay for it in full when you buy it (sell the trailer). Save up more money to move into an even nicer home if you prefer, keep doing it until you're in the home you really want. But... somewhere along the line a few (a few too many) people decided to skip the trailer and the modular, and they jumped straight into the home they'd never be able to afford.

(P.S. - the government loves people to own expensive homes... more property taxes for the government.)

All good discussion material.

Good enough isn't good enough anymore. Easy-to-get loans make all these nice toys seem like an achievable dream rather than something that must be worked for.

And the "fast food" culture doesn't help either: it spills over into every aspect of life so that instant gratification becomes the expectation. You can get a burger in 40 seconds, a coffee in 20 seconds, a new pair of glasses in an hour. So people expect the same with major purchases too, and how better to make that happen than 20 minute loan approvals?

Saving up money in a bank account is no longer a goal for very many people.

First, the overspent over borrowed consumer says, "Damn I shouldn't have bought that... dumb me... I didn't have the money.... shit!"

Next, the overspent over borrowed consumer says, "Damn... that guy shouldn't have lent me the money... he should have known I couldn't pay it back..."

Soon the overspent over borrowed consumer feels completely innocent of any bad decisions, and consequently - they will probably do it all over again.

(Drug addicts adopt this attitude frequently, and they blame the drug dealers.)

The revolving wheel of blame: I spent too much! I borrowed too much! But it's not my fault, lol!

Of course they will. That type of person always has, and always will.

And yup, if you lend that person $$$ it sure is your fault.

And sure, it's our fault too, for letting or politicians and corporations get so far out of control.

I just cannot see where anyone else can be blamed for my own actions.

Good discussion.

The recent issue is, "they" aren't supposed to make money on a bad loan, but somehow "they" found a way to do that. And it's criminal, or should be.

I agree, good discussion.

1.) inform people they are responsible for their financial decisions.

AND

2.) pass more stringent laws regarding providing loans.

Attack the problem from both directions... the user AND the source.

The sad truth?.... All too many of us are. Here we are, teaching dying the dying art of wood shop (no, I do not support eliminating it, but its just for comparison's sake) in our schools and completely neglecting to teach the even absolute basics of financial responsibility? Why aren't we teaching basic economic responsibility as a required class? Instead, the closest we ever seem to get to it is an elective chosen only by those who actually admit they dont know it all! I am all for those two approaches. and #2 should include that ALL terms should be summarized in plain english and in a readable font, not some 4-8 point compressed font in legalese that only an experienced attorney can understand.

Wake up people!!!! Contracts are written that way to discrouage you from reading them because if you truly knew all the terms, you would not sign them in the first place. And yes, sometimes the intent is to encourage breach of contract, thus relieving the issuers of any responsibility they might have had. Personally, I think more stringent laws need to be passed regarding contracts in general.

True, however, remember when the economy was good and all you heard on tv commercials was "Bad credit? Divorce? Bankruptcy? No problem! You are guaranteed approval!" If that isn't an example of irresponsible lending then what is it?

WE had a boom in a lot of areas in 60s and business momentum kept going till the middle eastern oil land holders kids got out of college, learned they could dictate with oil, the financial track of the world, then all that great production momentum from 60s stopped,(check this GMs first big financial hit that led current trends was in 69/70 ie the "70 1/2" Camaro, that little strike cost GM back them 60 million, think 1.1 billion todays money, and gave unions more more teeth thay hadnt had before.

Also we had a "war" thats not a war, ran by politicians and lost by them also.A president who had great ideas and goals but lost sight and focus and fell from grace. A Vice President with no backing to fix anything, then one with great diplomatic skills but little business sense.

WE then get a president who spends to BOOST development, research, design, innovation, Yes Reagan, It led to some of the greatest technology creation to date and yes even some technology scammers who led to the Dot Com bust ,as you rarely can sell nothing for long before.

Then we had some real genius in financial arm of country who saw fit to "say" all of the laws and regulations set in place to stop another depression were not needed anymore. This led to insurance, creditors, and lenders all getting in bed together(think Citi-Group).

Then most of the old money, investment bankers(people who loan large capital to "TCK.inc" to produce widgets)/firms younger "talent" ,and I use term loosely, saw a chance to do business like a bank(oh wait but with out any type of insurance or guarantee like say "1st National bank and Broke" these are guys your 401k and savings are tied to for long term growth , slow steady earnings over quick and dirty earnings.

Now all those big groups like Citi, have idiotic loans out for a $250k home loan(on a $90k value home) to Jon Doe for home who only makes $9.00 an hour. His job goes away as many did or his little $200-400 a month payment goes to $1200. Well its widespread all over land. hundreds of thousands of houses are going up, being sold for more than they are worth to people who cant even afford them in first place.

Well then City/AIG/ etc fall apart Investment banking goes like this, if my firm has good rep I make money, I can have 30 billion in reserve but in 2 weeks with a rumor and all those regular bank loans are failing too.

Well the nicely stacked house of financial cards falls, Hence wall street.

Some of those firms that have made TRILLIONS over 100 yrs are gone or so big and bloated if they fail major repercussions will ensue(hence the improperly controlled "bail out".

Now many of the lenders of short term loans are gone.

OK today TCK Inc. buys his widget parts by a delivered as needed rather than buying all he needs for projected yearly sales (think of it this way Henry Ford bought steel in 6 month increments). His widget screws are bought net 30, he borrows for short term for small amount on 30 days, builds widgets and sells them and pays bills, including loan.

Now he cant get a loan of any kind, he has certain bills he pays same way, like pay roll every 4 th week , he doesnt have large supply of parts nor cash. And his "credit" supply is gone, so he uses what he has in bank. Also he misses his payment on revolving over head debt (debt that transfers from year to year, hoping to get ahead of it or at least keep it even ie no bigger) thats ok hes never missed, but now that note wont wait, its coming due as rules changed on him (this is auto industry).

Nothing wrong with Credit as long as you keep it in the 30-35% range(ie cards with $1000 limit $300-$350 max you will use, unless an emergency )

Now if your company has been working to remove this revolving credit use(think Ford) as it gets out of hand (thing GM getting shafted by UAW on health care and retirements)Yes retiring too early is big issue and a 1200 sq ft house costing $150k in certain areas but in others costing $50k, or add more zeros. More zeros in housing industry was just a dam waiting to break.

Now Reagan spent similar amount in 1980-1981, and it was paid back bay end of 80s.

I just dont know if these professionals getting loans have brains and ingenuity to complete again.

Oh and nearly 90 % of the bonuses to AIG employees were contracted payments for employees who did their work and made money/profit (dont get me wrong company was having issues but if 60-70% of your performance based income wasnt paid, what would you do?) Take it this way, old girl friend works for AIG, in NYC she makes $32k a year plus performance bonus, NY welfare pays more than that, her bonus was $59k. she made good return, lost no money and actually was rewarded a little for her hard work of SAVING peoples investments. She uses a rule of keeping base investment (ie if you gave her $5.00) she doesn't jeopardize that ,where as others just dont care if it all gets lost.

She usually makes more in a year, but her work is performance based.

Ask me how I know about performance based pay,I AM A FLAT RATE TECHNICIAN, Now my company does pay a "benefit rate" so I dont starve on dead weeks, but so far if I had worked for a year at current job my average yearly income will be around $25k +/-.

OH and lest not forget that I currently have about $50k in tools, of which about $5k are financed or I would have crap to work with, yep my scanner is better than stores.

And the big issue with my current employer, is they have no clue (trust this)on how to simply get customer wrote up, get them in, estimate, do work and take payment. Our Current service manager has no clue why I keep telling him how A/C should be done/sold and wants to do it Pep-Tucky Way.

So much in last 10-15 yrs has turned from product based industry to "nothing" based industry.

Some companies are doing better, a lot of banks are trying to give back TARP funds, but hey I say as long as thay have them, put them to good use if they can make money on them or atleast provide a zero loss use of them.

I am hoping to start my own shop soon as we keep hearing our store/company will be shut down if no profit is made by end of year.

Oh wellI do good work, try to keep my bills paid and hopefully Ill get to save some soon.

Many people don't understand loans, and that you pay back more money than is borrowed.

The result of this whole over borrowing mess hasn't completely played out yet.

But I think there have been a lot of lessons learned on both sides of the table.

Creating more laws curtails our freedom of choice, I know I like to choose what is best for me.

I feel responsible enough to make my choices. I don't need government protection from myself.

There is simple equation: gross domestic product can be measured in several ways:

first, in terms of expenditure, second, in production's terms and they both should be equail. Expenditure consists of consumption, investment, government purchases, and net export. Crisises have happened since the market's economy kick of. Why this happened? Seems to me, because of overeproduction just to arjust the both sides of the equation. I'am not a communist and find that the market is the worst way of economy but the mankind hasn't devised something better (thanks to sir W.C.). But I think that the clue point is that employers and employees have different objectives. What would a employee do with his income? I think he would put it into consumption for his living expenses and buying a house, car et cetera or he would save it with the same purpose unless he has the great fortune which can sound as a little bit unusual. On the other hand, the business's owner is looking for new business investment that ,in turn,leads to creating new products or some kinds of derivatives, which unavoidably would be exessive unless the government increases expenses or export to other countries. But to increase expenses the policymakers need some money. From where it should come? From the different sources. The main donors are taxes. Federal can issue some extra money but this is inflation's invitation. There is also the borrow's option, but to issue new bonds there is a neccessity for someone to purchase them. The left opportunity is to increase taxes on the rich people unless the government want their ordinary citizens would be paid for rich business owner's fault. The example is Sweden and Germany. But there is an threat that the capital would flow to the tax free zone. So, it is the globe dillemma...

If the consumer doesn't have money to spend, then regardless of how much production industry can crank out, the economy will slide. Forget tax breaks for business: give those dollars to the consumer instead.

Without businesses there are no consumer jobs, and no consumer dollars.

(Obama is learning this the hard way right now.)

Good discussion.

I suppose you can look at the former Soviet Union to see what I'm getting at. They had a "Supply-side" economy. The government told industry what and how much to produce, and propped those industries up accordingly. But the consumer suffered because (a) they didn't have the disposable income to spend and (b) because industry didn't have the capital to produce enough to meet demand.

A demand economy flips the equation. Industry should, in theory, be responding to the demand for its goods.

But when we have industry over-producing (GM recently announced that they had a 6 month supply of unsold vehicles for example), those industries have to absorb huge losses, because someone somewhere is waiting to be paid for the materials that went into that over-production.

All I'm saying is that if government is going to throw money at the problem (not saying they should), then that money should be given to the consumer: it would have a much greater impact.

but ron... Bush tried that... But as quickly as he gave it to us, OPEC stepped in and squandered it all from us.

I know a business that could hire 3 more people right now. Why doesn't it? Health insurance costs, family leave costs, workman's compensation costs, threat of unionization, liability costs, etc.

If the government wants people to have all of that, why not have the government provide it FOR EVERYONE, and not just the people working for the government?

Jobs are being outsourced due to the high cost of labor and liability.

Make it easier for businesses to hire and see what happens.

(This point is slowly becoming clear to Obama, he is beginning to recognize the importance of friendly business & industry relations. He doesn't want to acknowledge it, but too many jobs are being outsourced and too many companies are relocating out of the USA.)

Time will tell... but this country needs JOBS, soon.

I thought we were in the USA! I thought that everyone is responsible for their own actions!

As far as i can see, big business executives have spent many years screwing up and keep on doing it because they simply shift the consequences to their employees and customers. And then when they get fired its still no big deal because their lawyers covered them there too with these enormous severance packages! Look, I understand that businesses are not to blame for everything that happened to our economy, but lets not hold them completely harmless either as they have done their share of screwing up too. Oh, and if you think health insurance costs are high now, think about how much higher they will be if all employers denied their workers sick time, forcing them to arrive at work sick and make their coworkers sick too. I think that even businesses know that it would reduce productivity, let alone increase the cost of health insurance. What we need to do is step back, and give what our government did some time to work. We bailed out the financial industry about 9 months ago and we are just now starting to see its effects. That nearly 1 trillion dollar stimulus package has yet to show some results, and it will.... in a big way too... it just needs some time. We need to stop demanding more government intervention as it can eventually do more harm than good.

gtr - if you have to reach that far down into the pit of unreality to build an argument, it is hopeless, give up, lol. Usually you're smarter than that.

Business owners don't have sick days - are the employees somehow entitled to free $$ for no work?

Why?

- - - - - - - - -

Those thousands of unemployed people aren't being 'abused' now... they're safe, lol.

And no worries about calling off sick either. They can be sick everyday now without fear.

Sooner than later though... people are going to want to work for some money. And they're going to need some employers.

Just my opinion - I never expected any pay for no work, and I never had any problems.

I sat there and watched (stupid) people order a large drink, fill up their own cup, and keep going back for more. They had no clue that they could drink just as much for half of the price.

In fact... I watched entire families all order and pay for large drinks.

Should this 'scam' be unlawful? Should we demand government intervention?

(I learned as a small child that 'a fool and his money will be soon parted'.)

People are going to get paid money for the work they perform.

It introduces a new concept called 'earning'.

Work = money earned.

No work = no money earned.

Seriously folks, the fallout from the unemployment numbers has not even begun to take effect yet. When the unemployment money eventually runs out, AND IT WILL RUN OUT no matter how many times Obama extends the unemployment 'free money for no work' program that currently encourages people to not take jobs (why work when you get paid anyhow?), people are going to be DESPERATE for employment. Food, shelter, and clothing will become an issue. There are tens of thousands of people unemployed right now - the percentages are over 10% in many states, can you imagine how many people that entails?

Projection: people are going to beg those 'evil abusive' businesses and industry to do hiring, at any level of pay, for any work available. I hope I'm wrong.

http://news.yahoo.com/s/ap/20090727/ap_on_go_co/us_senators_mortgages

http://news.yahoo.com/s/ap/20090728/ap_on_re_us/us_stimulus_counting_jobs

Alex Isenstadt Fri Jul 31, 5:30 am ET

Screaming constituents, protesters dragged out by the cops, congressmen fearful for their safety welcome to the new town-hall-style meeting, the once-staid forum that is rapidly turning into a house of horrors for members of Congress.

On the eve of the August recess, members are reporting meetings that have gone terribly awry, marked by angry, sign-carrying mobs and disruptive behavior. In at least one case, a congressman has stopped holding town hall events because the situation has spiraled so far out of control.

- - - - - - - - - -

Rather than listen to the voters, they just cancel the meetings.

(The voters aren't unionized though, so too bad, lol...! )

Hey, aren't I entitled to a sarcastic rant once in a while?

The way I see it, fixing this economy is much like taking care of a pool. If you read a low chlorine level. You need to either figure out exactly how much chlorine to add, or more often, add a little and wait to see what it does. Remember that you are dealing with an enormous amount of water and the added chlorine will not show right away. Simply adding chlorine until your level becomes right will result in everyone who swims in it complaining of burns and rashes within 12 hours, as the chlorine will be at a toxic level by then. We need to apply this analogy to the economy instead of treating it like Burger King and expecting results right away.

just my .02

The general economic concensus is that the USA would lose overall, because foreign countries impose a likewise or higher tax on U.S. exports (which the U.S. desperately needs for economic survival).

This response is neither in favor of or against the import taxation policy, but it appears the taxation of imports causes more economic harm than good. We tax them, they tax us harder, we tax them harder, etc.

Nope.

Workplace safety and the exploitation of children are not part of the reasons for unionization, and even the unions members will tell you so.

That is completely false information, no unions ever go on strike for those reasons which are 100% covered under strictly enforced U.S. laws.

(Higher prices due to union extortion here in the USA entices many companies to have goods made overseas, and this actually increases child labor in foreign countries though.)

Don't get me wrong, I am a non-union worker working for a non-union employer, but I am still glad for union presence in this country. It provides competition for non-union companies as well as giving them incentive to properly treat workers. Now, I'm not saying that a person should be making on average, $75 an hour working in a factory, but unions have made occupational life better even in the non-union sector. I think they just need to know when to shut up is all.

I do know that Obama doesn't have the answers......hell he isn't even a good used car salesman........

They want to be sure they are not used, abused, and exploited... by YOU.

With all those cars going straight to the compactor, there will not be enough parts to maintain the clunkers still on the road that people still have to rely on. And if the news media is accurate, most of those "clunkers" I see on tv hitting the crusher are in MUCH better shape than the two that I own. Don't get me wrong, mine run very well and almost every day I pass up cars much newer than mine parked on the side of the highway, but that's because I maintain them. I just don't want to be forced to sign my life away on a car that I cannot afford. But then again, what better way to protect the investment forced upon us by Government Motors than to force us to buy cars from them? Oh, and I thought we outlawed the Communist party anyway. I guess they resurfaced under a new name.

By the way, think of the impact this will have on our economy (and tck this is right up your alley). Banks appear to be just giving away credit for car loans because of this deal. That means, if you think the mortgage crisis was bad, wait until this hits the fan. I would like to take this moment to thank Mr Obama in advance for taking us right into the second Great Depression.

By Dennis Cauchon, USA TODAY

States are aggressively expanding legalized gambling, eager to shore up battered revenue sources during the economic crisis and concerned that residents will cross state lines to gamble elsewhere if they don't.

- - - - - - - -

This will further help stupid people overspend money they don't have.

"The state made me do it! If the state didn't provide gambling I never would have lost all of my money. The state is like those mortgage bankers who gave people loans! Criminals!"

No one forces people to take out loans, gamble, smoke, etc.

People need to accept responsibility, and KNOW they are responsible, for their own actions.

Anheuser-Busch InBev and MillerCoors say they will raise prices.

Sure, when the economy has people pinned down and one of the only things you can afford to do is sit at home and have a beer...........

They entice unknowing innocent people into drinking their product then they raise the price.

That's as bad as those criminal mortgage bankers offering loans (that nobody was forced to sign for)... they should be hanged, shot, and/or jailed for 100 years!

Who's gonna protect the average adult citizens that cannot think for themselves?

http://www.brewpubzone.com/Microbrews.html

Bring back jobs, jobs, jobs. Help business & industry thrive in the USA.

Even if people actually have to WORK at a job instead of just showing up (as has been the 'American way' for the past decade), we need jobs.

Even those jobs that no one 'wants' (duh... that's why they call it work, lol).

People need jobs, right NOW, even jobs that don't pay enough.

Make it so business & industry WANTS to be in the USA instead of Mexico.

FOR THE RECORD

"The belief that the tax code is skewed to benefit the rich is one that many Americans share. When pollsters ask whether high-income people are paying too much, too little, or their fair share in federal taxes, 60 percent or more of respondents routinely answer: too little. But the data tell a different story. By any reasonable standard the rich pay far more than their fair share. According to the latest (2007) IRS data, the top 1 percent of US taxpayers earn 22.8 percent of adjusted gross income but pay 40.4 percent of all federal income taxes. By contrast, the bottom 95 percent of taxpayers, who earn 62.5 percent of the income, pay just 39.4 percent of the income tax burden. That bears repeating: The income tax burden of the top 1 percent, who comprise just 1.4 million taxpayers, now exceeds that of the bottom 134 million combined. While economic resentment makes a potent political brew, the hangover it leaves can be fierce. Democrats should resist the clamor to soak the rich, and remember instead Paul Tsongas's admonition: 'No goose, no golden eggs.'" --columnist Jeff Jacoby

Douglas McIntyre

Sep 27th 2009 at 8:30AM

There are a lot of people out of work, which is the norm during a recession. There are almost no jobs available, which is a bit unusual during a recovery.

According to the The New York Times, a look at Labor Department statistics for the month of July revealed that "only 2.4 million full-time permanent jobs were open, with 14.5 million people officially unemployed." That's a six to one ratio -- the largest since they've tracked this stat. The immediate effect of the situation is obvious, but the longer term effects may not be. People will clearly be looking for work for a longer period than in previous recessions and the unemployment rate is almost certain to go over 10 percent, and may stay there for several quarters.

The stress that this problem will put on the federal, state, and local governments around the country will be immense. The first consequence of this major imbalance between jobs and the jobless is that federal and state governments will be providing an unemployment social safety net that they really cannot afford. Congress has already voted to extend unemployment benefits, further straining federal financial resources. But, many people who are out of work will run out of benefits early next year, further undermining consumer spending.

The other issue for government at all levels is that tax receipts will continue to stagnate at lower-then-expected levels, at least when compared to the federal Budget. IRS receipts may actually continue to drop, driving the deficit higher.

The recession may be over, but it may not be over for long.

- - - - - - - - -

Obama is doing nothing to encourage job growth, n-o-t-h-i-n-g.

YOU Obama supporters had better wake up soon, Bush bashing won't pay YOUR bills.

Hate for republicans might feed the ego, but it won't feed the family.

The way people seem to be handling this is like operating frantically and carelessly on a patient who is in a serious state of shock, and has lost too much blood..... Give the patient more blood, ease him/her out of shock and let his/her vitals return closer to normal before operating, so you can do it calmly and carefully instead.

Now get out there and spend your money!

The government will say it has been 'forced' to raise taxes on us all.

There will be much fanfare about how sorry they are, and what tremendous sacrifices must be endured, but the bottom line is this:

The salaries, benefits, and retirement packages of government employees MUST be paid.

There can be few if any exceptions.

The government workers that guide & nurture your lives must be paid, even if you go broke doing it.

Spend all of your money, and write about it, I'm cool with it.

gtr - my financial future is secure, my worry is that my money and higher taxes will have to support those who spent all of their money, lol. Someone is gonna have to buy the bread & broth for the soup kitchens.

Are you concerned about Uncle Sam Taxing Away Your Wealth?

CONSIDER THIS HEADLINE FROM APRIL 16TH - TAX DAY

Americans' Tax Burden Near Historic Low

Washington Post, April 16, 2009

It certainly doesn't feel this way, but it's true. Taxes are at their lowest levels in multiple generations for Americans of all income levels. The problem is, they're not likely to stay that way.

Even before the housing and banking crisis of 2007-2009, government spending was out of control. The budget surpluses of the late 1990s had been replaced by budget deficits that should have made every prudent American taxpayer pause. Now, with the economy in deep recession the deficits continue to skyrocket, as does the national debt currently at $11 trillion and counting, not including mammoth commitments made to Social Security and Medicare.

This is a crisis in the works. And unlike previous recessions, lowering taxes to stimulate economic activity will not be enough this time. Demographic trends suggest that we will not be able to grow ourselves out of it like we did in the 1990s. The logic of the Laffer Curve, regrettably, will not work this time.

If you are going to preserve your wealth in the difficult years ahead, you must first understand the depth of the problems we face. Then, you have to implement all of the tools and strategies at your disposal to keep as much of your hard-earned wealth as possible for you and your family.

It was at the exact point where I had a business that I learned how foolish my idealistic, creative, and fictional fantasy notions about business had been.

It kind of reminded me of when I learned everything I could about hockey, I practiced hockey, I watched hockey, I lived hockey... I was all hockey... and then suddenly I was out on the ice in a live real-time hockey game - and I learned what is what like to PLAY hockey at that exact moment.

So, my friend, I respect your opinions greatly, and you are entitled to your opinions, but until you own a business and everyone (society, employees, the gov't, lawyers, accountants, etc.) wants a piece of what YOU OWN... you're dreaming. Have a good fantasy. You are an 'armchair' business consultant, and there's nothing wrong with that, most everyone else is too.

I'm glad I have my financial future secure gtr - because for long number of years I worked half days to get it... all day or all night, lol. No benefits, no overtime, no holidays, no vacations, no sick days, no gov't support just hinderance. Not even a chance of unemployment if my business failed (owners can't have unemployment). So the first thing you have to do in business is save up enough money to carry the business for 6 months in case of a downslide ($25,000? $30,000?).

Just the opposite of workers - the workers get a job and then borrow $25,000 based on 'future earnings'. If the job fails they go on unemployment. Free money is what that is.

And for all of the ways and means American workers expect (demand?) to get an income for doing as little as possible (in many cases - not a damn thing), it comes as NO SURPRISE to me that some feel they have no financial future.

Because they DON'T have a financial future, they've abused the business & industry 'system', and they had better realize it. And they had better change their ignorant ways NOW. And lastly - they had better learn to WORK for a living and realize that businesses hire people to MAKE THE BUSINESS MORE MONEY, no other reason, lol. Not to give people jobs, not to put food on your table, not provide two cars, but to make the business money. The most valuable employee in my eyes? The employee who constantly thinks about ways to make him/herself more profitable for the company.

I'm going to sit back and watch the chaos as it unfolds. Mostly because I was forced to provide for my own financial future. I had to, nobody else was gonna do it.

You have not even begun to see the havoc, chaos, unfairness, and downright shame, some people are going to go through financially. You have no conception.

Mark these words - people will be lining up for minimum wage jobs VERY soon. These desperate people will work 'under the table' for LESS THAN MINIMUM WAGE soon, and it's gonna be SCARY.

I hope we're both okay when the fallout subsides.

Business & Industry will love that - paying health insurance for someone's unemployed roommate.

(We're clearly seeing the 'change' we voted for, lol. )

AIG kitchen worker gets $7,700 bonus

Posted Oct 14 2009, 05:53 AM by Douglas McIntyre Rating: Filed under: AIG, 24/7 Wall St.

American International Group (AIG) is a meritocracy. One of the firms best kitchen workers got a $7,700 retention bonus as part of the firms plan to keep key employees. According to the FT, the payment was made in March.

Kenneth Feinberg, the governments pay czar, is asking that AIG retention bonuses be cut by $198 million for 2010 and that the company claw back $45 million from last year.

The trouble with the plan is that some of the retention programs were probably part of written agreements with employees, and the federal government may not want to be seen as violating contracts. It would raise the issue of whether employment agreements at firms which have still not repaid government loans are any good at all.

The pay czar may find pressure from AIG workers and the legal community to honor past commitments. Some of the pay agreements may even go into court. If the pay czar loses in a dispute in district court, if could severely undermine his future ability to regulate Wall Street pay.

As for the kitchen worker, Feinberg will probably not get that bonus back. It was probably already spent on a new car, a vacation condo, or a childs college education.

I do not believe the gov't going after private companies is a good idea, mainly because they can't get them all, so for the ones they do target it will be unfair.

Fixing the economy may mean encouraging business & industry to hire people - not badgering them.

Do you mean maintain it in a state to which we all have become accustomed?

Those days are over. We are now a service based economy where many can not afford insurance, social security will be a thing of the past, the american dream is over.

It is a new dawn and walmart is on the horizon shining like a beacon. The new american dream. The largest employer in the country. The new standard model. Embrace the change.

let walmart unite the world!

And I agree 100%, we must all "embrace the change".

"Embrace the change" may be the most important concept involved in fixing our economy. Way too many people think things are gonna go back to the way things used to be... bad view.

Big money union jobs are gone, unfortunately people need to get used to being paid what they are worth. We've exported business & industry in exchange for the environment, and government regulations, that was a HUGE mistake.

New world economy where the USA isn't always the leader anymore: embrace the change.

Not too many people think so.

Fixing the economy?

I say we start by pulling out of Iraq and A'stan, save all of that taxpayer money.

Yes, now if we take that money and apply it to huge tax incentives for the multinationals along with exemption from the Kioto treaty , anti union laws and no minimum wage, there is a formula for success. As I have said in another forum, Walmart, US's largest employer, IS the future of this country.

It's not scary. It's good business. But about that minimum wage. That's got to go. Can't have that and expect a business to compete successfully in the global economy.

How will we ever expect jobs to come back to this country with a minimum wage law? It's a fact that all minimum wage does is increase the cost of living for the rest of us and place an undue hardship on business. Increased cost of living means people demand higher wages. Why would any company who is currently outsourcing or planning to, change their minds? Seriously, How will minimum wage help with our enormous trade deficit when companies continue to move over seas and outsource? We can not produce products cheap enough in this country to compete in the global economy. Our current minimum wage is too high.

The cold hard truth is that if we want jobs to stop leaving the country and our trade deficit to go away we are going to have to seriously lower our expectations for a standard of living in this country. There are more than 25 million jobs that have left our shores since NAFTA. This will only increase growing our trade deficit and devaluing the dollar. Once Oil begins to trade in Euro's if you think times are bad now you haven't seen anything. Explain how you see minimum wage helping the economy when companies closing up shop here are going over seas for wages far lower than our current minimum not to mention No benefits, No social security, No insurance, tax incentives and lax environmental standards? India an China are in for a 50 year run of growth with 3 billion potential consumers and rising. We have 250 million and our population growth is stagnant. Jobs will stay there and continue to leave here until the Chinese/Indian standard of living surpasses our own. Then the cost of doing business may may bring companies back here. Of course there still are the tax and environmental burdens that have to be considered. I Just don't see it happening do you?

No doubt in my mind.

I have often wondered in the past how a foreign country could manufacture a large, heavy product there, and ship it over here, and still be competitive with American goods manufactured here.

We can bring manufacturing BACK to the USA and still have an advantage over the foreign competition because we don't have to ship the goods if we make them here. We should enjoy some cost advantage due to transportation costs.

I believe that manufacturing jobs CAN come back to the USA without our nation having to lower it's standard of living to the point of foreign countries. Americans and American companies have to settle for less profit, fewer benefits, and lower wages though.

Smart people start businesses, most of them will always figure out a way to maximize their profits. That's the whole idea of being in business.

(If the price of oil doubled it would cost twice as much to ship the foreign made goods here, and that would provide an advantage for the USA too. Hopefully that will occur.)

Interesting topic.

The Employee Meeting: I would like to start by thanking you for attending this meeting, though it's not like you had much of a choice. After all, attendance was mandatory. I'm also glad many of you accepted my invitation to your family members to be here as well. I have a few remarks to make to all of you, and then we'll retire to the ballroom for a great lunch and some employee awards.

I felt that this meeting was important enough to close all 12 of our tire and automotive shops today so that you could be here. To reassure you, everybody is being paid for the day --- except me. Since our stores are closed we're making no money. That economic loss is mine to sustain. Carrington Automotive has 157 full time employees and around 30 additional part-timers. All of you are here. I thank you for that.

When you walked into this auditorium you were handed a rather thick 78-page document. Many of you have already taken a peek. You were probably surprised to see that it's my personal tax return for 2008. Those of you who are adept at reading these tax returns will see that last year my taxable income was $534,000.00. Now I'm sure this seems rather high to many of you. So ... let's talk about this tax return.

Carrington Automotive Enterprises is what we call a Sub-S - a Subchapter S corporation. The name comes from a particular part of our tax code. Sub-S status means that the income from all 12 of our stores is reported on my personal tax return. Businesses that report their income on the owner's personal tax return are referred to as "small businesses." So, you see now that this $534,000 is really the total taxable income - the total combined profit from all 12 of our stores. That works out to an average of a bit over $44,000 per store.

Why did I feel it important for you to see my actual 2008 tax return? Well, there's a lot of rhetoric being thrown around today about taxes, small businesses and rich people. To the people in charge in Washington right now I'm a wealthy American making over a half-million dollars a year. Most Americans would agree: I'm just another rich guy; after all ... I had over a half-million in income last year, right? In this room we know that the reality is that I'm a small business owner who runs 12 retail establishments and employs 187 people. Now here's something that shouldn't surprise you, but it will: Just under 100 percent ... make that 99.7 percent of all employers in this country are small businesses, just like ours.

Every one of these businesses reports their income on a personal income tax return. You need to understand that small businesses like ours are responsible for about 80 percent of all private sector jobs in this country, and about 70 percent of all jobs that have been created over the past year. You also need to know that when you hear some politician talking about rich people who earn over $200,000 or $500,000 a year, they're talking about the people who create the jobs.

The people who are now running the show in Washington have been talking for months about raising taxes on wealthy Americans. I already know that in two years my federal income taxes are going to go up by about 4.5 percent. That happens when Obama and the Democrats allow the Bush tax cuts to expire. When my taxes climb by 4.5 percent the Democrats will be on television saying that this really isn't a tax increase. They'll explain that the Bush tax cuts have expired .. nothing more. Here at Carrington we'll know that almost 5% has been taken right off of our bottom line. And that means it will be coming off your bottom line.

Numbers are boring, I know ... but let's talk a bit more about that $534,000. That's the money that was left last year from company revenues after I paid all of the salaries and expenses of running this business. Now I could have kept every penny of that for myself, but that would have left us with nothing to grow our business, to attract new customers and to hire new employees. You're aware that we've been talking about opening new stores in Virginia Beach and Newport News . To do that I will have to buy or lease property, construct a building and purchase inventory. I also have to hire additional people to work in those stores. These people wouldn't immediately be earning their pay. So, where do you think the money for all of this comes from? Right out of our profits .. right out of that $534,000. I need to advertise to bring customers in, especially in these tough times. Where do you think that money comes from? Oh sure, I can count it as an expense when I file my next income tax return .. but for right now that comes from either current revenues or last year's profits. Revenues right now aren't all that hot ... so do the math. A good effective advertising campaign might cost us more than $300,000.

Is this all starting to come together for you now?

Right now the Democrats are pushing a nationalized health care plan that, depending on who's doing the talking, will add anywhere from another two percent to an additional 4.6 percent to my taxes. If I add a few more stores, which I would like to do, and if the economy improves, my taxable income ... our business income ... could go over one million dollars! If that happens the Democrats have yet another tax waiting, another five percent plus! I've really lost track of all of the new government programs the Democrats and President Obama are proposing that they claim they will be able to finance with new taxes on what they call "wealthy Americans."

And while we're talking about health care, let me explain something else to you. I understand that possibly your biggest complaint with our company is that we don't provide you with health insurance. That is because as your employer I believe that it is my responsibility to provide you with a safe workplace and a fair wage and to do all that I can to preserve and grow this company that provides us all with income. I no more have a responsibility to provide you with health insurance than I do with life, auto or homeowner's insurance. As you know, I have periodically invited agents for health insurance companies here to provide you with information on private health insurance plans.

The Democrats are proposing to levy yet another tax against Carrington in the amount of 8 percent of my payroll as a penalty for not providing you with health insurance. You should know that if they do this I will be reducing every person's salary or hourly wage by that same 8 percent. This will not be done to put any more money in my pocket. It will be done to make sure that I don't suffer financially from the Democrat's efforts to place our healthcare under the control of the federal government. It is your health, not mine. It is your healthcare, not mine. These are your expenses, not mine. If you think I'm wrong about all this, I would sure love to hear your reasoning.

Try to understand what I'm telling you here. Those people that Obama and the Democrats call "wealthy Americans" are, in very large part, America 's small business owners. I'm one of them. You have the evidence, and surely you don't think that the owner of a bunch of tire stores is anything special. That $534,000 figure on my income tax return puts me squarely in Democrat crosshairs when it comes to tax increases.

Let's be clear about this ... crystal clear. Any federal tax increase on me is going to cost you money, not me. Any new taxes on Carrington Automotive will be new taxes that you, or the people I don't hire to staff the new stores I won't be building, will be paying. Do you understand what I'm telling you? You've heard about things rolling downhill, right? Fine ... then you need to know that taxes, like that other stuff, roll downhill. Now you and I may understand that you are not

You know our economy is very weak right now. I've pledged to get us through this without layoffs or cuts in your wages and benefits. It's too bad the politicians can't get us through this without attacking our profits. To insure our survival I have to take a substantial portion of that $534,000 and set it aside for unexpected expenses and a worsening economy. Trouble is, the government is eyeing that money too ... and they have the guns. If they want it, they can take it.

I don't want to make this too long. There's a great lunch waiting for us all. But you need to understand what's happening here. I've worked hard for 23 years to create this business. There were many years where I couldn't take a penny in income because every dollar was being dedicated to expanding the business. There were tough times when it took every dollar of revenues to replenish our inventory and cover your paychecks. During those times I earned nothing. If you want to see those tax returns, just let me know.

OK ... I know I'm repeating myself here. I don't hire stupid people, and you are probably getting it now. So let me just ramble for a few more minutes.Most Americans don't realize that when the Democrats talk about raising taxes on people making more than $250 thousand a year, they're talking about raising taxes on small businesses. The U.S. Treasury Department says that six out of every ten individuals in this country with incomes of more than $280,000 are actually small business owners. About one-half of the income in this country that would be subject to these increased taxes is from small businesses like ours. Depending on how many of these wonderful new taxes the Democrats manage to pass, this company could see its tax burden increase by as much as $60,000. Perhaps more.

I know a lot of you voted for President Obama. A lot of you voted for Democrats across the board. Whether you voted out of support for some specific policies, or because you liked his slogans, you need to learn one very valuable lesson from this election. Elections have consequences. You might have thought it would be cool to have a president who looks like you; or a president who is young, has a buff body, and speaks eloquently when there's a teleprompter in the neighborhood. Maybe you liked his promises to tax the rich. Maybe you believed his promise not to raise taxes on people earning less than a certain amount. Maybe you actually bought into his promise to cut taxes on millions of Americans who actually don't pay income taxes in the first place. Whatever the reason .. your vote had consequences; and here they are.

Bottom line? I'm not taking this hit alone. As soon as the Democrats manage to get their tax increases on the books, I'm going to take steps to make sure that my family isn't affected. When you own the business, that is what you're allowed to do. I built this business over a period of 23 years, and I'm not going to see my family suffer because we have a president and a congress who think that wealth is distributed rather than earned. Any additional taxes, of whatever description, that President Obama and the Democrats inflict on this business will come straight out of any funds I have set aside for expansion or pay and benefit increases. Any plans I might have had to hire additional employees for new stores will be put aside. Any plans for raises for the people I now have working for me will be shelved. Year-end bonuses might well be eliminated. That may sound rough, but that's the reality.

You're going to continue to hear a lot of anti-wealth rhetoric out there from the media and from the left. You can chose to believe what you wish .. .but when it comes to Carrington Automotive you will know the truth. The books are open to any of you at any time. I have nothing to hide. I would hope that other small business owners out there would hold meetings like this one, but I know it won't happen that often. One of the lessons to be learned here is that taxes ... all taxes ... and all regulatory costs that are placed on businesses anywhere in this country, will eventually be passed right on down to individuals; individuals such as yourself. This hasn't been about admonishing anyone and it hasn't been about issuing threats. This is part of the education you should have received in the government schools, but didn't. Class is now dismissed.